LME aluminium opened at US$2,231 per tonne yesterday, with its high and low at US$2,268 per tonne and US$2,222 per tonne, respectively, before closing at US$2,222 per tonne, down US$10 per tonne or 0.45 per cent.
On Wednesday, January 24, both LME aluminium cash bid price and LME aluminium official settlement price expanded for the second day in a row owing to EU sanction rumours. As per the data, both LME aluminium cash bid price and LME aluminium official settlement price surged by US$62.5 per tonne or 2.91 per cent to halt at US$2,207 per tonne and US$2,207.50 per tonne.
3-month bid price and 3-month offer price gained US$58 per tonne or 2.65 per cent and US$58.5 per tonne or 2.67 per cent to peg at US$2,243 per tonne and US$2,244 per tonne. December 25 bid price and December 25 offer price hiked by US$47 per tonne to peg at US$2,480 per tonne and US$2,485 per tonne.
LME aluminium opening stock came in at 546325 tonnes. Live warrants and Cancelled warrants settled at 338475 tonnes and 207850 tonnes. LME aluminium 3-month Asian Reference Price surged by US$76.62 per tonne or 3.52 per cent to peg at US$2,247.66 per tonne.
SHFE aluminium price
On the other hand, the SHFE aluminium price has moved down by US$3 per tonne or 0.11 per cent to reach US$2,645 per tonne. Overnight, the most-traded SHFE 2403 aluminium contract opened at RMB 19,075 per tonne, with high and low at RMB 19,075 per tonne and RMB 18,920 per tonne before closing at RMB 18,935 per tonne, down RMB 90 per tonne or 0.47 per cent.
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